CY4OR was contacted by a leading financial institution via the 24 hour emergency number to investigate a laptop containing highly sensitive data that had been stolen but subsequently recovered.
The implications of the data being compromised were huge to the business. The business would have suffered from significant adverse media attention, clients would need to be informed and they were obliged to inform at least two regulators. The overall cost and impact would have been significant and fines and damages could have been anywhere up to £500,000 and beyond.
The organisation implemented their forensic readiness plan and instructed CY4OR to undertake an investigation of the recovered laptop. As a result of our investigation CY4OR was able to demonstrate that the data had not been compromised and the organisation were able to report this to their regulators.
The investigation was concluded within 24 hours, reports were provided to the regulators swiftly demonstrating corporate governance and effective response on behalf of the client, and there was no requirement to notify third parties as no data was lost. The regulators were satisfied that the organisation reacted appropriately and diligently, therefore the fines were reduced significantly.
Actual cost to the client – under £10,000
Maximum cost potential – £500,000 +